Crude Oil Movement
Oil prices advanced 1.21% against the USD, on Friday, for the 24 hour period ending 23:00GMT, closing at 103.81, after Iraq halted some crude exports on a technical fault and as encouraging economic data from Europe raised prospects for oil demand.
In the Asian session, at GMT0300, Crude Oil is trading at 103.87, 0.06% higher from Friday’s close.
Crude oil is expected to find support at 102.83, and a fall through could take it to the next support level of 101.79. Crude oil is expected to find its first resistance at 104.59, and a rise through could take it to the next resistance level of 105.31.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.